The Consumer Price Index for All Urban Consumers (CPI-U) increased 1.2 percent in March on a seasonally adjusted basis after rising 0.8 percent in February, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 8.5 percent before seasonal adjustment. Increases in the indexes for gasoline, shelter, and food were the largest contributors to the seasonally adjusted all items increase. The gasoline index rose 18.3 percent in March and accounted for over half of the all items monthly increase; other energy component indexes also increased. The food index rose 1.0 ... (full story)

Consumer prices climbed further into the stratosphere in March and the only consolation is that this painful bout of skyrocketing costs may have peaked. Inflation hit a fresh 40-year high as continuing surges in gasoline, food and rent costs more than offset moderating used car prices. The consumer price index leaped 8.5% annually, the fastest pace since December 1981, the Labor Department said Tuesday. That's up from 7.9% in February and inflation now has notched new 40-year highs for five straight months. Prices rose 1.2% from their February level, the sharpest monthly increase since September 2005. Gasoline prices ... (full story)